NZ-based Halter raises $155m in funding as Australian expansion accelerates

The news: New Zealand agricultural technology company Halter has secured $155 million in Series D funding, valuing the company at $1.55 billion. The round was led by technology investment firm BOND, with participation from NewView Capital and existing investors including Blackbird and Icehouse Ventures.

The numbers: Halter's virtual fencing technology currently manages 25% of Tasmania's dairy herd. The company employs over 200 people across New Zealand, Australia and the United States. The global cattle-based products market generates more than $1.57 trillion annually.

The context: Founded in 2016, Halter provides a digital operating system for dairy and beef farms through solar-powered smart collars that enable farmers to manage cattle remotely via an app. The technology is already operational in Queensland and Tasmania, with Victoria, New South Wales and South Australia expected to permit virtual fencing following regulatory changes. The funding comes as Halter, recently named the fastest growing company in New Zealand by the Deloitte Fast50 index, accelerates its Australian expansion.

What they said: "Halter farmers are more profitable and get better outcomes for the environment and their animals. Farmers use Halter to grow and harvest more grass, reduce workload, increase herd size, improve animal health and welfare, and unlock environmental benefits," said Craig Piggott, chief executive officer and founder of Halter.